- We haven't reached our final destination yet
- But we are not far from it
- Debate will soon shift from level of interest rates to that of maintaining them over time
- We need to curb inflation without having too negative an impact on the economy
I'm guessing he's alluding to the notion as to why they aren't just going to raise rates by 50 bps this month instead. But the overall tone of his message is similar to what we have heard during the week from his colleagues.
